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RE: FpML-EQD v2 Fw: FpML EQD WG Minutes 1400 LDN Fri 16 May 2008
Marc
I apologise if I did not minute your
comments correctly, Takeo did ask in particular about FpML-4-3, to avoid
Swaps Wire clients having to migrate to FpML-4-4, and I recorded your answer
as relating to FpML-4-3
Regards
Andrew Parry
+44 20 7325 1486
Exotics and Hybrids Architecture
JP Morgan
"Marc Gratacos"
<MGratacos@xxxxxxxx>
Sent by: eqdwg@xxxxxxxx
19/05/2008 14:53
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| RE: FpML-EQD v2 Fw: FpML EQD WG Minutes
1400 LDN Fri 16 May 2008 |
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Oops, I meant to say that the
minutes should state “FpML-4-4 is still being revised for Loan
WG work, Swaps Wire interest leg dates proposal will also be included”.
FpML 4.3 is in Recommendation already so it’s closed.
From: eqdwg@xxxxxxxx [mailto:eqdwg@xxxxxxxx]
On Behalf Of Marc Gratacos
Sent: Monday, May 19, 2008 9:50 AM
To: eqdwg@xxxxxxxx
Subject: RE: FpML-EQD v2 Fw: FpML EQD WG Minutes 1400 LDN Fri 16 May
2008
Andrew,
The minutes state “FpML-4-3
is still being revised for Loan WG work, Swaps Wire interest leg dates
proposal will also be included”
It should say “FpML-4-3 is
still being revised for Loan WG work, Swaps Wire interest leg dates proposal
will also be included”. FpML 4.3 is in Recommendation already so it’s
closed.
Best Regards,
Marc
From: eqdwg@xxxxxxxx [mailto:eqdwg@xxxxxxxx]
On Behalf Of andrew.p.parry@xxxxxxxxxxxx
Sent: Monday, May 19, 2008 9:42 AM
To: eqdwg@xxxxxxxx
Cc: matthew.d.rawlings@xxxxxxxxxxxx; mark.a.addison@xxxxxxxxxxxx
Subject: FpML-EQD v2 Fw: FpML EQD WG Minutes 1400 LDN Fri 16 May 2008
Name correction below
Andrew Parry
+44 20 7325 1486
Exotics and Hybrids Architecture
JP Morgan
----- Forwarded by Andrew P Parry/JPMCHASE on 19/05/2008 14:40 -----
| Andrew P Parry/JPMCHASE
19/05/2008 09:36
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Subject
| FpML EQD WG Minutes 1400 LDN Fri 16 May 2008 |
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* Present
Mark Addision, JP Morgan
Takeo Asakura, Swaps Wire
James Clark, Swaps Wire
Marc Gratacos, ISDA
Lyteck Lynhiavi, ISDA
Robert Masri, DTCC
Andrew Parry, JP Morgan ( Chair )
Matthew Rawlings, JP Morgan
Sreedhar Segu, DTCC
Irina Yermakova, ISDA
* Minutes
We may have to wait for pressure from the industry to reduce legal drafting
complexity, and so the subsequent complexity of resulting FpML models
FpML-4-4-LCWD-2 will be released in the next two weeks. Swaps Wire may
make a further proposal for inclusion in the release
For business rules we do not have a 'last exercise' context, and so cannot
have business rules which would depend on this. This should be specified
as part of the exercise process
FpML-4-3 is still being revised for Loan WG work, Swaps Wire interest leg
dates proposal will also be included
Many of our outstanding Validation Issues relate not only to correct _expression_
of the business rule, but also ensuring that the evaluation does always
return a result. Validation WG should comment on the revised implementations,
and/or provide alternate implementations
MG recorded our decisions in the online FpML issue tracking system during
the course of our meeting, which are summarised in the decision section
below
* Decisions
1. Adopt Swaps Wire interest leg dates proposal for inclusion in FpML-4-3
onwards
2. Adopt proposed resolution for the following issues
http://www.fpml.org/issues/view.php?id=702
http://www.fpml.org/issues/view.php?id=701
http://www.fpml.org/issues/view.php?id=700
http://www.fpml.org/issues/view.php?id=699
http://www.fpml.org/issues/view.php?id=698
http://www.fpml.org/issues/view.php?id=686
http://www.fpml.org/issues/view.php?id=685
http://www.fpml.org/issues/view.php?id=684
http://www.fpml.org/issues/view.php?id=683
http://www.fpml.org/issues/view.php?id=672
http://www.fpml.org/issues/view.php?id=677
3. Next meeting 1400 LDN Fri 23 May 2008
* Actions
TA/JC create further Swaps Wire proposal for inclusion in FpML-4-4-LCWD-2
MG confirm that Swaps Wire interest leg date type proposal is consistent
with existing date type
LL arrange area on FpML website to host XQuery implementation of FpML business
rules
RM contact Harry McAllister ( IRD WG Chair ) for advice on approach to
compounding spread proposal
RM create compounding spread proposal
MR provide list of business rule condition and context
IY correct validation examples recorded as issues 703, 704, 705, 706
Andrew Parry
+44 20 7325 1486
Exotics and Hybrids Architecture
JP Morgan
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Please refer to http://www.jpmorgan.com/pages/disclosures for disclosures relating to UK legal entities.